Deutsche Bank announces election of a new Member to the Management Board Deutsche Bank Ltd.

Deutsche Bank is pleased to announce that Yaroslav Lissovolik, Chief Economist and Head of Research Deutsche Bank Russia is elected as a Member of the Management Board of Deutsche Bank Ltd. after obtaining all required approvals from the Central Bank of Russia.

Yaroslav joined Deutsche Bank in 2006 after the Bank acquired United Financial Group where he previously worked as UFG’s Chief Economist since 2004. Prior to that he worked in the International Monetary Fund in Washington as Advisor to the Executive Director for the Russian Federation since 2001.

Yaroslav’s academic credentials include a BA magna cum laude in Economics from Harvard University; an MA with honors in International Economic Relations from Moscow State Institute of International Relations (MGIMO); an MSc in Economics from the London School of Economics (LSE) and a PhD in Economics from MGIMO and a Doctorate from the Diplomatic Academy.

Igor Lojevsky, Chief Country Officer for Russia and CIS said: “Deutsche Bank’s analytical team remains one of the strongest on the Russian market. The team led by Yaroslav won various awards of the respectable international ratings and magazines. In 2010 Deutsche Bank’s analytical team was praised as one of the top three research teams (and the best international broker) in Russia according to the rating published by the U.S. Institutional Investor magazine. Over the past several years Deutsche Bank’s research team has made an important contribution to the success of the Deutsche Bank franchise in Russia. In his new role Yaroslav will work closely with Joerg Bongartz, the Chairman of the Management Board, in further reinforcing Deutsche Bank's strong presence in the Russian market.”

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.

Deutsche Bank Ltd. (Deutsche Bank Russia) was established in April 1998. The Bank is a wholly-owned subsidiary of Deutsche Bank AG. Deutsche Bank has become one of the largest foreign banks in Russia. Deutsche Bank Russia provides local and international, corporate and private clients with a broad range of financial services, comprising corporate finance and advisory, sales, trading, transaction banking as well as private wealth management and asset management services. The bank includes the largest Russian and multinational companies among its client base.